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[ Article ] | |
Seoul Journal of Economics - Vol. 35, No. 3, pp. 207-240 | |
Abbreviation: SJE | |
ISSN: 1225-0279 (Print) | |
Print publication date 31 Aug 2022 | |
Received 29 Jun 2022 Revised 07 Aug 2022 Accepted 08 Aug 2022 | |
DOI: https://doi.org/10.22904/sje.2022.35.3.001 | |
Robotization and Labor Supply in the Context of a Dynamic Monopsony: Novel Evidence from South Korea | |
Ahmed J. Saade ; Constantinos Alexiou ; Yacine Belghitar
| |
Ahmed J. Saade, University College London, Department of Economics and Cranfield School of Management, Cranfield University, UK | |
Constantinos Alexiou, (Corresponding Author), Cranfield School of Management, Cranfield University, UK (constantinos.alexiou@cranfield.ac.uk) | |
Yacine Belghitar, Cranfield School of Management, Cranfield University, UK | |
JEL Classification: J2, J3, J42 |
We estimate the effects of robotization on labor supply in Manufacturing, Services and the whole of the South Korean economy using exponential hazard and a random effects logit methodologies over the period 1999-2019. Our findings suggest that a larger operational stock of industrial robots in manufacturing is associated with manufacturing (non-manufacturing) workers becoming more (less) responsive to a change in wages in their decision to quit to non-employment, whilst the ease with which firms can poach workers is found to be unaffected by robotization.
Keywords: Automation, Dynamic monopsony, Elasticity of labor supply, Industrial robots, Labor share, South Korea |
Declaration of interest statement: The authors report there are no competing interests to declare.
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